Here is recent news article on unsolicited Sunoco offer for Tulsa Coking Refinery – appears one of the offers may be from Holly since this article was sourced to Holly executive, but other versions indicate more than one “offer” may have been made As this article mentions the 85MBD Tulsa refinery has $400MM project for LS Diesel due complete in 2010.
Sunoco was recently upgraded by Soleil Securities analysts to a “Buy” citing the refinery sale, putting its coke assets into a master limited partnership, or divesture of its chemical business as moves that would significantly improve earnings. (AP 12/11/07 – http://www.msnbc.msn.com/id/22198572/ ). Note – The coke refered to here is Sunoco’s Coal Coke operations (~$24MM) via SunCoke Energy (formerly Sun Coke) in Victoria, Brazil, its Jewel Coal operations, the Indiana Harbor Coke plant and a proposed second 550 kmtpy Havermill site (with 67 MW HRSG at cokemaking plant) operational in 2008.
Lots of other non-coking Sunoco refineries in the news –
Sunoco Philadelphia Refinery (Monday) fire/explosion that injured 3 people was sourced to a welding tourch. (Jersy AP article http://www.courierpostonline.com/apps/pbcs.dll/article?AID=/20071211/NEWS01/71211016 )
The Sunoco Toledo refinery is taking shutdown for repair work on crude & fluid cat cracker (FCC) work next fall with possibility part work could start in March 2008. (article http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20071213/BUSINESS03/71213008 )
<Note there was older May 2006 article in “Insulation Outlook” magazine that featured Sunoco Refineries in their Insulation project which started with Toledo Refinery & ended with Tulsa Refinery. See at http://www.insulation.org/articles/article.cfm?id=IO060502 >
Regards
